Rideshare insurance for drivers
18 September 2023
Thinking of joining the growing community of rideshare drivers across Australia? Or perhaps you're already part of this dynamic industry? Either way, it's essential to understand what rideshare insurance covers to help protect your vehicle and your source of income.
What does my rideshare company cover?
Each rideshare service may offer various levels of cover, so it’s worth checking with your specific provider before you start ridesharing. However, this coverage may often be limited and only apply when you turn on the rideshare app.
In most cases, rideshare companies don’t provide cover for damages to your own car — so if your car is involved in an accident, it could significantly affect your income.
Additionally, before you start ridesharing most rideshare companies require drivers to have:
- a valid vehicle registration
- Compulsory Third Party (CTP) Insurance, and
- either Third Party or Comprehensive Car Insurance.
What insurance do I need for ridesharing?
Compulsory Third Party Insurance
Compulsory Third Party (CTP) Insurance covers you if you cause personal injury to someone else when driving your car. It’s the minimum legal requirement for cars registered in all states and territories in Australia.
Third Party Car Insurance
Third Party Car Insurance covers you if you cause damage to another vehicle or someone's property. This type of insurance doesn’t cover any repairs to your vehicle — so it may not suit rideshare drivers who depend on their cars for income.
However, with Suncorp Third Party Car Insurance, we’ll cover the damage to your car caused by a collision with an uninsured driver up to $5,000 if you:
- didn't contribute to the incident, and
- can provide us with the name and address of the person at fault and the rego of the at fault vehicle.
Comprehensive Car Insurance
Comprehensive Car Insurance covers accidental damage or loss to your car, as well as to other cars and property damaged by your car, no matter who is at fault. This type of insurance could be beneficial for rideshare drivers as you’re covered 24/7 — whether you're ridesharing or using your vehicle for personal use.
Suncorp Comprehensive Car Insurance also includes extra benefits to help rideshare drivers get back on the road faster:
- A hire car after not-at-fault incidents.
- A hire car after theft for up to 21 days.
- Lifetime guarantee on quality of materials and workmanship of repairs that we authorise.
- No additional rideshare excess if you need to make a claim for an accident that occurred while using your car for ridesharing.
How do I add rideshare insurance to my policy?
If you're a new customer, select the 'Ridesharing' option on a new quote when asked about your car usage.
For existing Suncorp Insurance customers, simply log in to your My Suncorp account and update your ‘vehicle use’ option to ‘Ridesharing’. Please note that ridesharing may affect the amount you pay for your insurance cover.
Other rideshare insurance tips
Can I claim my car insurance as a business expense?
Generally, you may be able to claim a tax deduction on your car insurance premium as a business expense. However, you'll only be able to claim for the percentage of time the vehicle is used for ridesharing and not for personal use. Seek the advice of an accountant or tax agent for claiming deductions specific to your circumstances.
Are my passengers covered?
Cover for passengers will depend on the terms and conditions of your CTP insurance policy — so contact your provider to confirm. However, most CTP insurance policies will cover bodily injury to passengers in your vehicle while you're on the road.
What do I do if I have an accident during a fare?
If you're involved in an accident during a fare, follow these steps:
- Check that everyone involved is safe and call 000 in case of an emergency.
- Take reasonable action to limit any further incidents and damage — such as pulling over to the side of the road if safe to do so.
- Take photos of any damage and get names and contact details from any witnesses.
- Lodge a claim online or via the Suncorp Insurance App.
You can make a Suncorp claim with Suncorp's online services, or the Suncorp App in just three steps. Let's start with how to claim using the app. If you would prefer to claim online, jump to the chapter, "Making a Claim Online".
Within the app, select the policy you want to claim for and tap "Claim". Enter the date the incident happened and hit "Start Claim". Fill in details about the incident, including when and where it happened, and any damage to your or other drivers' cars.
You'll be asked to specify what happened prior to, during, and after the accident. Before the accident, were you signalling to move into traffic? Perhaps you were stopped at a red light, and the accident happened after the light turned green and you moved into the intersection. To describe what happened during the accident, consider where you were looking and what you were doing. Were you turning a corner? Maybe you were distracted and had your eyes off the road. And after the accident, did you come to a stop? What about any other cars involved? Did you drive your car from the scene, or did it need to be towed?
After stressful scenarios like a crash, it can be tricky to recall everything. Don't worry. Try to describe as best as you can what happened just before the collision, in as little or as much detail as you can. This will help us determine the appropriate outcome for your claim. It might help to note down what you can remember soon after the incident, while it's still fresh in your mind. You'll also need to add details of other drivers involved. It's a good idea to get their full name, driver's licence number and car registration number.
Everyone's safety is a priority following a crash. Once everyone is out of harm's way, and the police or ambulance have been called if necessary, get contact and insurance details from any other drivers involved in the accident. This will help fast track your claim. If you're unable to provide details of the at fault driver, you could be charged an excess, even if you're not at fault. If you're not sure how to describe damage to your car, think about parts of your vehicle that have been affected by the accident. Has there been damage to the vehicle's lights, windows or windscreen, the bonnet, bumper, the sides, or the roof?
Take pictures after the incident, so that you can check back later if you need to. You can upload pictures, photographs, or receipts, to support your claim directly from your smartphone. Add your contact details and hit "Lodge claim". You'll see your claim number, which you can use to manage your claim online.
It's just as easy to claim online. Select policy type that you're claiming on and click "Claim online now" to begin. Like with claiming on the app, answer all the questions, including details about what happened, and damage to your vehicle. If you want to upload documents, or photographs to support your claim, you'll need to transfer them to the device you're claiming from. You can then upload them directly from your device. Add in your mobile number, email address, and ABN details if you have one.Confirm the info you have entered is correct and click "Lodge claim".
Want to track your claim post lodgement? Check out the video, "Suncorp makes it easy to track your claim. Here's how".
Reduce the stress of a car accident and its aftermath,by claiming with the Suncorp App, or online services.
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This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. The information is intended to be of a general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.